Immunovant (NASDAQ:IMVT) COO Melanie Gloria Sells 12,626 Shares

Immunovant, Inc. (NASDAQ:IMVT) COO Melanie Gloria sold 12,626 shares of the company’s stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $23.62, for a total value of $298,226.12. Following the completion of the sale, the chief operating officer owned 173,511 shares in the company, valued at approximately $4,098,329.82. This represents a 6.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Immunovant Price Performance

IMVT traded down $0.20 during trading on Friday, reaching $22.59. 1,885,153 shares of the company’s stock were exchanged, compared to its average volume of 1,807,647. Immunovant, Inc. has a 1 year low of $12.72 and a 1 year high of $29.49. The stock has a market capitalization of $3.96 billion, a P/E ratio of -7.95 and a beta of 0.60. The company’s fifty day simple moving average is $19.36 and its 200-day simple moving average is $17.05.

Immunovant (NASDAQ:IMVT) last released its quarterly earnings data on Monday, November 10th. The company reported ($0.73) EPS for the quarter, missing the consensus estimate of ($0.72) by ($0.01). During the same quarter last year, the firm earned ($0.74) EPS. Equities analysts forecast that Immunovant, Inc. will post -2.69 EPS for the current year.

Institutional Investors Weigh In On Immunovant

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. EFG Asset Management North America Corp. raised its position in shares of Immunovant by 76.2% in the first quarter. EFG Asset Management North America Corp. now owns 130,356 shares of the company’s stock valued at $2,226,000 after buying an additional 56,375 shares during the last quarter. Two Seas Capital LP boosted its position in Immunovant by 8.7% during the first quarter. Two Seas Capital LP now owns 1,642,772 shares of the company’s stock worth $28,075,000 after acquiring an additional 131,158 shares during the last quarter. Woodline Partners LP grew its stake in Immunovant by 133.0% during the 1st quarter. Woodline Partners LP now owns 1,497,869 shares of the company’s stock valued at $25,599,000 after acquiring an additional 855,143 shares in the last quarter. Cubist Systematic Strategies LLC raised its holdings in Immunovant by 438.2% in the 1st quarter. Cubist Systematic Strategies LLC now owns 58,122 shares of the company’s stock valued at $993,000 after acquiring an additional 47,322 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in Immunovant by 3.9% in the 1st quarter. Vanguard Group Inc. now owns 6,936,859 shares of the company’s stock worth $118,551,000 after purchasing an additional 257,445 shares in the last quarter. Hedge funds and other institutional investors own 47.08% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Citigroup reiterated a “buy” rating on shares of Immunovant in a research note on Monday, August 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Immunovant in a report on Tuesday, October 14th. Truist Financial started coverage on Immunovant in a report on Tuesday, October 14th. They issued a “hold” rating and a $16.00 price target for the company. UBS Group upped their price objective on Immunovant from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Monday, July 28th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $35.00 target price on shares of Immunovant in a report on Thursday, September 4th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $28.78.

About Immunovant

Immunovant, Inc, a clinical-stage biopharmaceutical company, develops monoclonal antibodies for the treatment of autoimmune diseases. It develops batoclimab, a novel fully human monoclonal antibody that target the neonatal fragment crystallizable receptor for the treatment of myasthenia gravis, thyroid eye disease, chronic inflammatory demyelinating polyneuropathy, and Graves diseases, as well as warm autoimmune hemolytic anemia.